Though the subject is apparently a simple one, it has presented
a multitude of questions for the consideration of the courts, many of
which it has taxed their highest wisdom to rightly solve.
A new book in any department of the law has one merit, if it is worth
anything at all,--and that is, the merit of presenting the latest
conclusions of the courts upon the topics treated of. In the department
of the law treated of by the work now under notice, this merit is one of
special consideration, for it has hardly reached its full development,
and some of its important rules are hardly settled. In this treatise
Professor Parsons has taken much pains to present the law just as
judicial determinations and legislative enactments have left it up to
the period of publication. But this work has merits which will last
after its newness is gone. It is comprehensive in its plan, embracing
the discussion of many points in the law of negotiable paper which are
not referred to in other treatises upon the subject. In style, the text
of the work is written with a clearness and grace which often give it
all the pleasantness of a finished essay, if one chooses to read
on without allowing his attention to be called off by the frequent
references to the notes. The notes occupy much space, and give very full
discussions of the more important points, with quotations from the most
important decisions.
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